Become a Housing New Mexico-approved Lender
Thank you for your interest in becoming an eligible lender under Housing New Mexico’s Single-Family Mortgage Program. You will need the following items:
- Lender Application
- Representations, Warranties and Covenants & Fidelity Coverage; Mortgage Errors and Omissions
- Sample Homeownership Program Master Agreement
- AR Mortgage Purchase Master Agreement
Please review the eligibility criteria prior to submission of your application to Housing New Mexico. We do require that your institution has at least one licensed office in the state of New Mexico. The branch must be in a commercial location, open to the public during normal business hours and staffed continuously with licensed local personnel.
We also require that local originators are actively producing loans for a minimum of six months before considering an application to participate. Production reports for the previous six months are required to show that the branch is established, and the local loan originators are producing loans in New Mexico.
Housing New Mexico will evaluate the production and determine whether the lender is able to apply or if a longer period of production must be evaluated.
Please complete the application in the link above and return to Housing New Mexico, along with all required attachments. Your application will be reviewed internally, which takes approximately 60 days;* provided that all requested documentation has been provided. A notice of approval or notice of denial will be sent electronically and through the mail. If approved, we will email our mortgage purchase agreement for your signature. Approved lenders will be subject to periodic review and a recertification process based on production volume with MFA. The recertification date, determined by the secondary market department, will be relayed to the approved lender by a homeownership representative.
Upon receiving Housing New Mexico approval, please contact our contract service provider to complete a Loan Purchase Agreement (LPA). This agreement must be completed prior to participating in our programs. Our current contract service provider is Idaho Housing and Finance Association: 208.331.4700, ext. 8600 or
Toll Free: 855-505-4700, ext. 8600.
Housing New Mexico communicates program and guideline changes via email. Once approved, your assigned homeownership representative will conduct an initial onboarding training and periodic training thereafter. Housing New Mexico staff are available to answer any questions you may have regarding the application process. You can reach the Homeownership Department at 505.843.6881.
*Housing New Mexico processes lender applications in the order received. During periods of heavy volume, the processing time may be significantly extended.
